Zoe Hughes
The private equity real estate firm has agreed to buy the former Harry Macklowe tower outright for $605m in a partnership with George Comfort & Sons. The firms had previously agreed a partnership deal with Deutsche Bank, which was ultimately rejected by the bank’s board of directors as too risky.
The New York-based REIT is reportedly in market with a private equity real estate fund targeting distressed retail and office properties.
The Philadelphia-based firm has raised $23 million to date for its second property fund. It will target under- and non-performing first mortgage loans in the region.
The multifamily and healthcare lender and investment firm has bought the California-based origination shop Sierra Capital.
The Singapore-listed leisure investment firm and developer has held a final close on its Banyan Tree Indochina Hospitality Fund, short of its original $300m to $400m target. The vehicle's core asset will be the Laguna Hue resort development.
Thomas Barrack writes an open letter to Santa Barbara residents appealing for the community to welcome Michael Jackson fans with open arms as they descend on the singer’s “only true home”, the Neverland Ranch. Colony reportedly spent more than $3m renovating the property this year in preparation for its sale.
Just as Starwood Capital plans a $500m debt IPO, Colony Capital also launches its own debt vehicle, Colony Financial. This is the first time Colony has managed a REIT, according to regulatory filings.
James Green has left the McLean, Virginia-based firm where he was managing director and co-global head of capital markets and client relations.
The duo have left the Los Angeles-based real estate investment firm. The placement agency they co-founded in 2001, Wetherly Capital, was mentioned in a legal complaint regarding the New York pay-to-play scandal. Wetherly has not been accused of any wrong-doing.
William Green has left the Greenwich, Connecticut-based firm for family reasons. He joined the firm in late 2007 to oversee Starwood’s debt investment operations.